Banks reaffirm support for Romania

Published: November 23, 2009

The parent groups of Romania’s biggest banks have reaffirmed their commitment to the country and said they will maintain adequate levels for their subsidiaries.

Following a meeting of the European Bank Coordination Initiative Group in Brussels, nine banks – Erste Group Bank, Raiffeisen International, Eurobank EFG, National Bank of Greece, UniCredit Group, Société Générale, Alpha Bank, Volksbank, and Piraeus Bank – have said they will maintain their exposure to the country and ensure capital levels of more than 10% for their affiliates, in line with the results of stress tests conducted by the National Bank of Romania.

According to the EBRD, also present at the meeting, as of November 2009 the exposure of parent banks to Romania was broadly maintained compared to a benchmark date of March 2009.